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Post Settlement, The Parc Condos Experiencing Massive Gains

Back in March, we reported on the settlement of a construction defect suit at the Parc condos in Belltown. At that time, the previous 12 sales averaged a cost per square foot of $376.62 with an average sale price of $317,867. Listings sold on average in 60 days after going on the market. In just 4 short months, everything has changed.

Since March there have been 6 sales in the building. The average selling cost per square foot was $476 per foot. That is a $100 more a foot or a 26% increase per sale.

The other notable increase is in the average selling price. During the time the project was tied up in litigation, the average selling price was $317,867. Since March of this year, that number has jumped to $355,033.

Other projects, such as Mosler Lofts, realized the same gains after settling their lawsuit. We anticipate that this trend will continue. Good time to buy? Yes.

Note: This is a seattlepi.com reader blog. It is not written or edited by the P-I. The authors are solely responsible for content. E-mail us at newmedia@seattlepi.com if you consider a post inappropriate.